Target Co. (NYSE:TGT) Shares Sold by Ledyard National Bank

Ledyard National Bank decreased its holdings in shares of Target Co. (NYSE:TGT) by 3.6% in the 3rd quarter, Holdings Channel reports. The firm owned 36,883 shares of the retailer’s stock after selling 1,386 shares during the quarter. Ledyard National Bank’s holdings in Target were worth $5,749,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Boston Partners acquired a new stake in shares of Target during the 1st quarter worth approximately $335,870,000. AQR Capital Management LLC grew its stake in Target by 711.2% during the 2nd quarter. AQR Capital Management LLC now owns 876,531 shares of the retailer’s stock worth $129,762,000 after buying an additional 768,479 shares during the last quarter. Swedbank AB acquired a new stake in Target in the first quarter worth $107,367,000. Clearbridge Investments LLC lifted its stake in Target by 17.5% in the first quarter. Clearbridge Investments LLC now owns 3,153,875 shares of the retailer’s stock valued at $558,898,000 after buying an additional 470,647 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in shares of Target by 11.4% during the second quarter. Victory Capital Management Inc. now owns 4,316,738 shares of the retailer’s stock valued at $639,050,000 after acquiring an additional 440,307 shares during the period. 79.73% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Richard H. Gomez sold 6,348 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $157.17, for a total transaction of $997,715.16. Following the completion of the transaction, the insider now directly owns 123,551 shares in the company, valued at $19,418,510.67. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Target news, insider Richard H. Gomez sold 6,348 shares of the company’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $157.17, for a total value of $997,715.16. Following the completion of the transaction, the insider now owns 123,551 shares of the company’s stock, valued at $19,418,510.67. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Brian C. Cornell sold 45,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $158.67, for a total transaction of $7,140,150.00. Following the completion of the transaction, the insider now owns 303,843 shares of the company’s stock, valued at approximately $48,210,768.81. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 52,348 shares of company stock worth $8,290,995. Corporate insiders own 0.23% of the company’s stock.

Target Trading Down 3.8 %

Shares of Target stock opened at $150.91 on Tuesday. The firm’s 50-day moving average price is $152.57 and its two-hundred day moving average price is $152.42. Target Co. has a 12-month low of $105.23 and a 12-month high of $181.86. The company has a quick ratio of 0.27, a current ratio of 0.90 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $69.82 billion, a price-to-earnings ratio of 16.94, a PEG ratio of 1.99 and a beta of 1.24.

Target (NYSE:TGT) last released its earnings results on Wednesday, August 21st. The retailer reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.18 by $0.39. Target had a return on equity of 33.10% and a net margin of 4.18%. The firm had revenue of $25.02 billion during the quarter, compared to analysts’ expectations of $25.19 billion. During the same period in the prior year, the company earned $1.80 earnings per share. The company’s quarterly revenue was up 1.0% on a year-over-year basis. On average, analysts forecast that Target Co. will post 9.53 earnings per share for the current fiscal year.

Target Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Wednesday, November 20th will be issued a $1.12 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 2.97%. Target’s dividend payout ratio (DPR) is currently 50.28%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. TD Cowen increased their price objective on shares of Target from $165.00 to $180.00 and gave the stock a “hold” rating in a report on Thursday, August 22nd. Bank of America raised their price target on shares of Target from $190.00 to $195.00 and gave the company a “buy” rating in a research note on Thursday, August 22nd. UBS Group boosted their price objective on Target from $185.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Melius Research began coverage on Target in a report on Monday, September 23rd. They issued a “buy” rating and a $180.00 price objective for the company. Finally, Daiwa America raised Target to a “strong-buy” rating in a research note on Monday, August 26th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, nineteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $179.30.

About Target

Target Corporation operates as a general merchandise retailer in the United States. The company offers apparel for women, men, boys, girls, toddlers, and infants and newborns, as well as jewelry, accessories, and shoes; and beauty and personal care, baby gear, cleaning, paper products, and pet supplies.